Pioneer Cement Ltd plans to install a 12MW waste heat recovery plant at its factory located at Chenki Village, District Khushab in the Punjab province of Pakistan.
During the period ended on 31 March 2015, the company produced 736,510t of clinker, a decline of 12.4 per cent (or 104,668t) compared to the 841,178t produced in the corresponding period of last year.
Capacity utilisation declined by seven per cent YoY to 49.2 per cent due to the availability of sufficient stock at the start of the period and planned maintenance of plant.
Cement production for the period under review stood at 865,255t against 860,100t produced in the same period of last year.
Total sales volume rose by 1.4 per cent YoY to 864,780t compared to 852,849t. Domestic sales increased by 8.1 per cent while exports plummeted 54.4 per cent during the period.
Profit after tax reached PKR1861m versus PKR1164m in corresponding period of 2014, registering an increase of 59.9 per cent. This resulted in earnings per share of PKR8.19 (PKR5.12 a year earlier).